JVC 2005 Annual Report Download - page 39

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Victor Company of Japan, Limited 37
Software & Media
Sales decreased 35.2%, to ¥95.9 billion, and operating
income declined 48.9%, to ¥2.4 billion, primarily owing to
the postponement of major releases by popular artists and
the expiration of sales consignment contracts for music
CDs, which outweighed growth in sales of DVD recordable
media.
Other
Sales slipped 6.3%, to ¥5.9 billion.
Financial Position
Total assets as of March 31, 2005, were ¥466.5 billion,
down ¥40.6 billion, or 8.0%, from the end of the previous
fiscal year. Total current assets declined ¥40.9 billion, to
Professional Electronics
Sales rose 1.2%, to ¥68.3 billion, and operating income
totaled ¥0.3 billion, a major improvement from the operating
loss of ¥1.8 billion in fiscal 2004. Although the presentation
systems business struggled, sales of surveillance camera
systems and other security products were strong.
Components & Devices
Segment sales dropped 30.5%, to ¥43.2 billion; however,
the operating loss shrank from ¥3.1 billion in fiscal 2004 to
¥1.7 billion. The robust performance of hard disk drive
motors was not sufficient to counter the negative effects of
the shrinking markets for floppy disk drive motors and
deflection yokes and the decline in orders for high-density
PWBs, leading to an overall decline in segment sales.
’01 ’02 ’03 ’04 ’05 ’01 ’02 ’03 ’04 ’05’01 ’02 ’03 ’04 ’05
Stockholders’ Equity/
Total Assets
(Billions of yen)
300
200
100
0
400
500
R&D Expenditures
(Billions of yen)
10
0
20
40
30
Depreciation and Amortization/
Capital Expenditures
(Billions of yen)
10
0
20
30
Stockholders’ equity
Total assets
Depreciation and amortization
Capital expenditures